1. Field of the Invention
The present invention relates to a new method of generating and displaying a stock index, a stock price chart generation system to which the method is applied, and a computer program suitable for construction of a server apparatus and a client machine included in the system.
2. Description of the Related Art
The applicant proposed a stock price chart (generally referred to as “Masuda candlestick chart”) that is easily understood by beginners in stock trading and is suitable for prediction of stock movements (see Japanese Patent Laid-Open No. 2003-118268). According to this Masuda candlestick chart, a unit value in a time axis direction of the stock price chart (a daily price, a weekly price, or a monthly price) is represented by a vertical bar having a pair of sequential moving average deviations as upper and lower ends and having colors corresponding to increase and decrease tendencies.
The applicant proposed a method of grasping a tendency by classifying a stock price chart into six sections along a time axis on the basis of a relation among magnitudes of respective moving average deviations in a short term, a medium term, and a long term. According to this classification method (generally referred to as “six (color) pattern classification”), a stock price chart of any stock is classified into a pattern A section (short term>long term>medium term) equivalent to an entrance of an upward trend, a pattern B section (short term>medium term>long term) equivalent to the upward trend, a pattern C section (medium term>short term>long term) equivalent to crash of the upward trend, a pattern D section (medium term>long term>short term) equivalent to an entrance of a downward trend, a pattern E section (long term>medium term>short term) equivalent to the downward trend, and a pattern F section (long term>short term>medium term) equivalent to the end of the downward trend (see Japanese Patent Laid-Open No. 2003-85381).
In order to estimate stock movements, various stock indexes have been conventionally adopted. Nikkei Index and Tokyo Stock Exchange stock index (TOPIX) in Japan and NASDAQ, Dow Jones industrial average (DOW), and SP500 in the United States are popular indexes indicating movements of the entire stock market. Apart from the indexes mentioned above, many indexes for predicting stock movements are known in Japan.
For example, bottom prices, highest price zones, overheated conditions, tendencies of selective buying, and the like of market prices can be grasped by analyzing an up-down ratio, a concentration of 10 most-heavily traded issues, a trading unit price, a high rank stock ratio, and the like.
The up-down ratio is calculated by dividing the number of stocks with increased prices by the number of stocks with decreased prices to calculate a quotient and multiplying the quotient by 100. When “day” is set as a calculation reference denomination, the fluctuation becomes too large. Thus, a 25-day moving average line is normally used for all data. The up-down ratio of 100% indicates a neutral state. When the up-down ratio exceeds 100%, since the number of stocks with increased prices increase, market prices are in a bull market with an expanded selective buying range. The up-down ratio around 120% indicates an overheated zone. When percentage exceeds 120%, “selling” is considered. Conversely, the up-down ratio below 100% indicates that the number of stocks with decreased prices increases. The up-down ratio around 70% is judged as bottom price zone.
The concentration of 10 most-heavily traded issues is an index for examining “how much share a total trading volume of 10 most-heavily traded issues occupies in a trading volume of the day”. When this concentration is high, an axis of selective buying is clear. When the concentration is low, selective buying is dispersed and unfocused.
The trading unit price is used for learning “stocks of which stock price level is presently bought”. The trading unit price is also examined using a moving average line. If the trading unit price is above a simple average price and is still rising, the trading unit price indicates selective buying of high-priced stocks with stock prices at high levels. In the opposite case, the trading unit price indicates selective buying of low-priced stocks.
The high rank stock ratio is calculated by multiplying a quotient, which is calculated by dividing the number of stocks having current prices exceeding the 25-day moving average line by the total number of stocks, by 100. In this case, when the high rank stock ratio exceeds 70%, market prices are in an overheated zone. When the high rank stock ratio falls below 30%, market prices are in a bottom price zone.
A stock price index by industry can also be used as a reference. From the stock price index by industry, not only it is possible to judge “stocks of which industry is bought currently”, but also can judge that the stock market “expects decline in an interest”, if interest-sensitive stocks of industries such as electric power, gas, ship building, and the like are being bought. The stock price index also indicates whether an object of selective buying is a large-capital stock (with the number of stocks issued equal to or larger than 200 million or more) or a small-capital stock (with the number of stocks issued less than 60 million) (see “Nyumon no Nyumon, ‘Kabu’ no Shikumi”, Tomio Sugimura, Nippon Jitsugyo Publishing, Oct. 20, 2004, pp. 156 to 157).
However, in such a conventional stock index, Nikkei index and TOPIX are indexes significantly depending on a total stock price of a group of basic stocks. In the up-down radio, the 10 most-heavily traded issues, the trading unit price, the high rank stock ratio, the stock index by industry, and the like, characteristic matters to be watched are uncertain. Thus, all of these indexes lack accuracy in judging market sentiments such as a selling tendency or a buying tendency.